Purpose

This assignment is intended to help you learn to research and apply auditing standards of the Public Company Accounting Oversight Board (PCAOB).

Overview

Byer & Peak, CPAs has been requested to perform a limited reporting engagement. The auditing firm has been asked by Snow, Inc. (a public company) to audit and express an opinion on the balance sheet only. The engagement partner has requested your assistance in determining if this type of audit report is allowed. If so, the engagement partner has requested that you draft a sample report for an unqualified opinion.

Action Items

1. Complete the reading and view the videos for this module.
2. Review the scenario provided in the Overview section above.
3. Research the accounting situation using the PCAOB Auditing Standard and submit a research memo:
   1. Use the PCAOB Auditing Standards (AS) to determine if this type of report is allowed.
   2. Prepare an Accounting Research Memo that answers the question in the Overview section above:
      • Refer to Unit 2 for appropriate Research Memo format.
      • Make sure to include specific AS reference(s) that supports your conclusionandtake a screen shot of the appropriate reference.
      • Include in your memo a draft of the sample report.